Georgia Divorce Property Division
In a divorce, one of the main issues that must be decided is the division of the marital property. Unless you and your spouse reach an agreement, a judge or jury will decide how to divide your property. Georgia is referred to as the equitable division state, meaning property will be equitably divided. This does not necessarily mean equally. All relevant circumstances can be considered in a judge or jury’s determination of what is equitable. Your property will not necessarily be divided into equal halves. Rather, each spouse will be awarded a portion of the marital property based upon principles of fairness.
Determining Marital Property
Dividing marital property is a two-part process. The judge must first categorize property as either marital property or separate property. Once this determination is made, the judge will then perform an equitable division of only the marital property. As a general rule, most property acquired during the marriage is marital property and therefore subject to an equitable division. Property that belonged solely to one of the spouses prior to the marriage may be categorized as separate property and therefore not subject to equitable division. However, depending upon the facts and circumstances of your case, separate property can be converted to marital property during a marriage.
Establishing an Equitable Division of Marital Property
Marital property must undergo an analysis known as equitable division. The process of equitable division is subject to a wide range of legal arguments, which underscores the importance of hiring an experienced divorce attorney to protect your financial interests. In a nutshell, the court will consider the specific facts and circumstances of your case in determining an equitable division of your marital property. These facts and circumstances include the length of your marriage, the financial needs and positions of both spouses, any prenuptial or postnuptial agreements, the marketable skills of both spouses, and both spouses’ contributions to the property as well as its maintenance during the marriage.
Hiring an Attorney
The equitable division of marital property is an inexact calculation that lends itself to a wide variety of persuasive legal arguments on both sides of the equation especially since the effects can be life-altering. Hiring an experienced family law attorney is essential to protect your financial interests. Contact The Zdrilich Law Group today for a consultation.